Panama History By vholland Jan 1, 1510 Balboa leaves Hispaniola Period: Jan 1, 1510 to May 23, 2013 Panama's History Sep 25, 1513 Balboa discovers “Great South Sea” {western side of Pacific} Nov 28, 1821 Panama declares independence from Spain Jan 24, 1848 Gold discovered in California Jan 28, 1855 Railroad built across Panama Jan 1, 1881 French Canal Project begins Jan 1, 1889 French Canal Project fails Apr 25, 1898 Spanish-American War Jan 1, 1901 United States of America buys the canal project from the French Nov 3, 1903 Panama gains independence from Colombia/ Hay-Bunau-Varilla Treaty signed Jan 1, 1907 United States of America begins building the Panama Canal Jan 1, 1913 United States of America finishes building of the canal Aug 15, 1914 The Panama Canal opens Jan 1, 1962 Panamanian flags allowed to fly beside American flags Jan 1, 1977 Carter-Torrijos Treaty signed Oct 1, 1979 Panama Canal Zone dissolved Dec 31, 1999 Panama takes full control of the Panama Canal Jan 1, 2007 Panama Canal enlargement begins